According to a recent analysis, Hawaii is the third worst state for retirees, just above the District of Columbia and Rhode Island.
The personal finance website WalletHub conducted an in-depth analysis that identifies 2016’s Best & Worst States to Retire.
With nearly a third of all non-retirees having no retirement savings or pension because many simply cannot afford to contribute to any type of plan, to help retirees find a retirement-friendly home that won’t break the bank, WalletHub’s analysts compared the 50 states and the District of Columbia across 24 key metrics.
The data set ranges from the adjusted cost of living to the number of various entertainment options per capita to public-hospital rankings.
Hawaii’s rankings, with 1 equaling best and 25 the average:
- 51st – Highest Adjusted Cost of Living
- 49th – Highest Annual Cost of In-Home Services
- 20th – WalletHub ‘Taxpayer’ Ranking
- 47th – Fewest Museums per Capita
- 40th – Property-Crime Rate
- 38th – Number of Health-Care Facilities per Capita
- 46th – Number of Nurses per 100,000 Residents
Hawaii did, however, have the highest life expectancy.
According to the analysis, the 10 best states to retire, according to ranking, are Florida, Wyoming, South Dakota, South Carolina, Colorado, Idaho, Texas, Montana, Nevada and Virginia.
Data used to create the rankings were collected from the U.S. Census Bureau, the FBI, the Missouri Economic Research and Information Center, the U.S. Bureau of Labor Statistics, the Retirement Living Information Center, the Genworth Financial, the United Health Foundation, the County Health Rankings, Measure of America, the Centers for Disease Control and Prevention, the Centers for Medicare & Medicaid Services, Charity Navigator, Gallup Healthways, GolfLink.com and WalletHub research.